In 2018, the automated material handling market was valued at USD 5.77 billion and is expected to reach a value of USD 9.85 b...

Date :

09/11/2019 @ 3:20PM

Source :

PR Newswire (US)

In 2018, the automated material handling market was valued at USD 5.77 billion and is expected to reach a value of USD 9.85 b...

NEW YORK, Sept. 11, 2019 /PRNewswire/ --

Market OverviewIn 2018, the automated material handling market was valued at USD 5.77 billion and is expected to reach a value of USD 9.85 billion by 2024, registering a CAGR of about 11.30%, over the forecast period 2019-2024. The Census of Fatal Occupational Injuries, which has been conducted under the U.S. Bureau of Labor Statistics, has established that workplace injuries have decreased by 25% in 10 years, due to the advent of various technologies in the workplace. This helps in boosting the automated material handling market.

Read the full report: https://www.reportlinker.com/p05815026/?utm_source=PRN

- With the increasing trend of industry 4.0, which invites collaboration between automated systems within facilities, warehouse managers are now interested in having enterprise-wide automation. They have been increasingly deploying goods with RFID tags, which increases the transparency and traceability of products. These technologies aid in the implementation of systems, such as robots and other technology to transform material handling technology.- Moreover, longer training and onboarding of employees, rising benefit and compensation rates, and shortages of labor are some of the significant factors driving more and more warehousing, distribution and fulfillment facilities, to invest in automated solutions for operations- However, high initial costs and maintenance issues have been the primary cause of restricting the use of AMH systems.

Scope of the ReportAutomated material handling equipment eliminates the need for human interference in a material handling process. Continuous rise in demand for automation with the advent of technologies such as robotics, wireless technologies, and driverless vehicles, in different industries like food and beverages, retail, general manufacturing, pharmaceuticals, and post & parcel has revolutionized the adoption of automated material handling the equipment.

- The increasing volume of cross-border air freight dedicated to quick deliveries, the e-commerce sector is expected to boost the demand for automated material handling solutions like tugs, ASRS, and sortation systems as heavy air freight carriers draw a considerable attention to AMH solutions.- According to a report published by IATA in March 2019, world air cargo traffic is forecast to increase dynamically, with the annual growth rate of over 4% in the next 20 years. In that, air freight is projected to grow at a rate of 4.3% per annum.- Hence, shippers and freight forwarders are looking for automatic guided vehicles (AGVs) and warehouse management systems (WMS) to boost productivity, operational efficiencies and increase responsiveness to customers.

Asia- Pacific to Witness the Fastest Growth

- The Asia-Pacific region is expected to witness the fastest growth rate compared to other regions because of the presence of the worlds largest manufacturing hub and world's largest exporter i.e. China. In China, automation is occurring at a rapid rate and automation is expected to cut the manufacturing costs by 30%, by 2025. Despite the wage rate is lower and the dearth of skilled labor, complicated by the one-child policy (however, the country removed the policy in 2016 and allowed the people to have two children) and the aging work-force needs the job activities to be eased for maintaining the productivity at work.- Additionally, another fastest growing economies of the world is India. With India's ambitious plan of 'Make in India', the manufacture and consequent distribution and logistics activities are expected to witness an exponential growth for automated material handling machines market.- Therefore, the above factors are expected to have a positive outlook in the automated material handling market in the Asia-Pacific region during the forecast period.

Competitive LandscapeThe automated material handling market is fragmented and highly competitive in nature. Some of the major players are Daifuku Co., Ltd, BEUMER Group, Siemens AG, JBT Corporation, Honeywell Intelligrated amongst others. Product launches, high expense on research and development, partnerships and acquisitions, etc. are the prime growth strategies adopted by these companies to sustain the intense competition. Some of the recent developments are

- April 2018 - Honeywell Intelligrated announced a new software platform for distribution centers that streamlines and simplifies complex e-commerce fulfillment operations. The Momentum warehouse execution system from Honeywell Intelligrated brings together automated equipment, workflows, orders, and labor in a unified platform to provide distribution center operators real-time visibility and help make operations more efficient.

Reasons to Purchase this report:- The market estimate (ME) sheet in Excel format- Report customization as per the client's requirements- 3 months of analyst support

Read the full report: https://www.reportlinker.com/p05815026/?utm_source=PRN

About Reportlinker ReportLinker is an award-winning market research solution. Reportlinker finds and organizes the latest industry data so you get all the market research you need - instantly, in one place.

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